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PE-controlled firms beginning to look at India

Indian outsourcing firms are winning deals from overseas entities controlled by private equity (PE) firms that are growing more comfortable with farming out work both as a way to reduce costs and leverage on the technology talent in Asia’s third largest economy. PE-controlled firms are typically privately held and lack the size and scale to outsource technology and back-office services. But as global economic growth slows and cost-cutting becomes imperative, PE and venture capital firms are cutting deals with outsourcing firms that can apply across their portfolio companies. “These are organizations which traditionally haven’t looked at globalizing their businesses, but are trying to do it now,” says Rohit Kochar, who advises PE firms on outsourcing possibilities. “These organizations have been languishing, and they are beginning to look at how to leverage India.” […]

BK Modi in talks to acquire Hollywood studio

US-based billionaire B K Modi is in advanced stages of negotiations with Los Angeles-based Culver Studios, a well-known independent studio in Hollywood, to buy out a majority stake. The deal is expected to be struck at $150 million (about Rs 600 crore). If the deal goes through, it will mark the entry of Indian companies in Hollywood studios. After selling off Spice Communications to Idea Cellular, B K Modi has been looking at foraying into the entertainment space. His first concrete foray in this direction came with a minority stake in broadcasting company Sony Entertainment Television in India. Mody is also foraying into the audio business and plans to make movies. “Modi is in the final stages of talks for buying Culver Studios for $150 million,” said a source close to the development. […]

Rolta to acquire US firm for $40-50 mln

IT and engineering services firm Rolta India Ltd is close to acquiring a Chicago-based firm at an estimated deal size of $40-50 million, a newspaper report said on Tuesday. The acquisition could be in the area of business intelligence software, the Economic Times report said citing sources. An announcement on this was likely to be made in the next few days, it said. “We are exploring a number of opportunities. But there is nothing to announce,” Rolta's Chairman and Managing Director K.K. Singh told the paper. For the quarter to June, Rolta's net profit rose 4.1 percent to 508.3 million rupees, while sales rose 58 percent to 3.2 billion rupees. (Reuters) […]

iYogi Secures $9.5M Funding Led by SAP Ventures

Personal Offshoring, which is driving the next wave of India's outsourcing success story, got a huge boost today when iYogi – a remote technical support provider from India – raised $ 9.5 million in Series B financing from SAP Ventures, a division of SAP AG, Canaan Partners and SVB India Capital Partners, a venture fund affiliate of Silicon Valley Bank. iYogi delivers technical support services directly to consumers and small businesses and is the first, global, technical support brand based out of India. The company offers its customers an unlimited, annual service subscription for $119.99 per desktop that includes support for a wide range of technologies, including PC hardware Microsoft Windows operating system operating systems, software applications, peripherals and multifunctional devices. […]